Packaging Company Investing $3M

Packaging Company Investing $3M

The Argos Town Council continues to set a business friendly “best practice stance” by approving a personal property tax abatement for Altium Packaging. Altium Packaging, formerly Consolidated Container Company, is expected to invest over $3 million in equipment and machinery at its Dewey St. facility in Argos.

This proposed expansion of the existing manufacturing facility is projected to add an additional 10 jobs above the 48 current jobs that will be retained. There has been over $10 million invested in production equipment at the facility in Argos since 2010. This is the first tax abatement that the company has pursued at this location. Consolidated Container had purchased the facility from Madras Packaging in 2012. The facility manufactures plastic bottles.

“Marshall County Economic Development Corporation was proud to support and assist Altium Packaging with this tax abatement especially during this COVID-19 pandemic, and with its effects on business, it is important to support business expansion,” said Jerry Chavez, MCEDC President/CEO. “This capital investment will result in over $300,000 being added to the local payroll. Tax abatement is a tool offered by the Town of Argos to encourage business investment in the business and is consistent with other support offered that the Town of Argos continues to nurture.”

Indiana Economic Development Corporation is also assisting Altium in a request for state incentives to aid in Altium’s expansion. Altium is a leading packaging manufacturer providing bottles to the dairy, water, beverage, healthcare, and other market segments. Altium is headquartered in Atlanta, Georgia, and has facilities in over 60 locations throughout the United States and Canada.

Click to share!
Category Business Buzz